Withdrawal Policy as it Applies to Return of Title IV Aid
Students should refer to the official academic withdrawal policy described in the current course catalog (Undergraduate Catalog, Graduate Catalog). Students are considered to be recipients of Title IV federal financial aid if they are eligible to receive or have received funds from one or more of the following programs for the academic term in questions: Federal Direct Unsubsidized Stafford Loan, Federal Direct Subsidized Stafford Loan, Federal Perkins Loan, Federal Direct Plus Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and TEACH Grant. Students should be aware that federal aid is earned on a prorata basis determined by the amount of time that they are enrolled in their courses for a given academic period. For students who are receiving federal aid who withdraw from all courses before attending at least 60 percent of the academic period, CLU is required by federal regulations to calculate how much federal aid funds the student has earned and how much of the aid must be returned. The amount of the federal aid 'earned' is determined by the withdrawal date provided by the Registrar’s Office and is plugged into a federal formula.
The portion of federal aid that was not earned by a student will be returned to the federal government. To satisfy federal regulations, return to Title IV financial aid programs must be made in the following order: Federal Direct Unsubsidized Stafford Loan, Federal Direct Subsidized Stafford Loan, Federal Perkins Loan, Federal Direct Plus Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and TEACH Grant. Please contact the Student Accounts Office to determine the amount that the student will be charged for the time they were enrolled, students will also be charged for any amounts that must be returned due to the calculation and these balances must be paid by the student. Please note if you are a work study employee, you are no longer eligible to receive payment from Federal Work-Study funds effective immediately when you withdraw.
If the calculation produces a credit to the students account (when the amount of aid earned is greater than the amount that has disbursed to the student's account) any grant funds will be applied to the account without notification. However, please note that if Stafford or Plus Loan funds are eligible to disburse under these conditions the borrower will be notified via email informing them of their eligibility and the borrower must confirm in writing that they want the loan to be disbursed. If no confirmation is received by the Office of Financial Aid within 30 days, the loan will be cancelled.
Non-Title IV programs (such as scholarships, grants, Cal Grant, and Alternative Loans) are not part of the Return of Title IV aid calculation; however they may be subject to reduction in cases of withdrawal based on institutional policy.
Important Note: Separating from CLU without officially withdrawing can cost you.
If you 'walk away' from your courses and fail all of the classes you were enrolled in you will be considered 'unofficially withdrawn'. Federal regulations require that the Office of Financial Aid complete a Return of Title IV calculation based on the midpoint of the term, which will significantly affect the amount of aid you will retain for the term. Please note it pertinent that you complete a Separation Form with the Registrar's Office.